World Bank: Difference between revisions
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'''The World Bank''' [http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,pagePK:50004410~piPK:36602~theSitePK:29708,00.html ] was set up in 1944 at the ''Bretton Woods Conference''. Its purpose is to reduce global poverty and improve living standards by providing low-interest loans, interest-free credit and grants to developing countries. It raises most of its funds by issuing [[bond]]s on the world's financial markets - and the remainder from members' contributions. | '''The World Bank''' [http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,pagePK:50004410~piPK:36602~theSitePK:29708,00.html ] was set up in 1944 at the ''Bretton Woods Conference''. Its purpose is to reduce global poverty and improve living standards by providing low-interest loans, interest-free credit and grants to developing countries. It raises most of its funds by issuing [[bond]]s on the world's financial markets - and the remainder from members' contributions. Its current President is [[Robert Zoellick]]. | ||
The Bank’s five branches are: | The Bank’s five branches are: | ||
==International Bank for Reconstruction and Development== | ==International Bank for Reconstruction and Development== | ||
The IBRD publishes the ''World Development Report for Reconstruction and Development'', ranking countries by income and other economic factors. It also provides loans to middle-income countries | The IBRD publishes the ''World Development Report for Reconstruction and Development'', ranking countries by income and other economic factors. It also provides loans to middle-income countries. | ||
==International Development Association== | ==International Development Association== | ||
The IDA gives interest-free loans to the poorest countries. | The IDA gives interest-free loans to the poorest countries. | ||
[[Uganda]] has been considered one of its success stories. Starting in 1963, International Development Association (IDA) for electric power development. Since then, the Bank has made available more than US$ 4.8 billion in loans and credits and about US$600 million in grants. Currently (December 2008), the portfolio comprises 21 active projects with commitments of US$1,212 million in all major sectors. Uganda's inflation rate has dropped dramatically and its economy is growing, even in spite of droughts. <ref>{{citation | |||
| url = http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/UGANDAEXTN/0,,menuPK:374947~pagePK:141132~piPK:141107~theSitePK:374864,00.html | |||
| title = Country Brief: Uganda | |||
| publisher = World Bank}}</ref> | |||
==International Finance Corporation== | ==International Finance Corporation== | ||
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World Bank representatives serve on the international [[Financial Stability Forum]] | World Bank representatives serve on the international [[Financial Stability Forum]] | ||
==References== | |||
{{reflist}} | |||
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Latest revision as of 07:01, 9 November 2024
The World Bank [1] was set up in 1944 at the Bretton Woods Conference. Its purpose is to reduce global poverty and improve living standards by providing low-interest loans, interest-free credit and grants to developing countries. It raises most of its funds by issuing bonds on the world's financial markets - and the remainder from members' contributions. Its current President is Robert Zoellick.
The Bank’s five branches are:
International Bank for Reconstruction and Development
The IBRD publishes the World Development Report for Reconstruction and Development, ranking countries by income and other economic factors. It also provides loans to middle-income countries.
International Development Association
The IDA gives interest-free loans to the poorest countries.
Uganda has been considered one of its success stories. Starting in 1963, International Development Association (IDA) for electric power development. Since then, the Bank has made available more than US$ 4.8 billion in loans and credits and about US$600 million in grants. Currently (December 2008), the portfolio comprises 21 active projects with commitments of US$1,212 million in all major sectors. Uganda's inflation rate has dropped dramatically and its economy is growing, even in spite of droughts. [1]
International Finance Corporation
IFC finances private-sector projects and provides technical support.
Multilateral Investment Guarantee Agency
The MIGA guarantees foreign investors against non-commercial risks.
International Center for the Settlement of Investment Disputes
This branch seeks to settle disputes between foreign investors and host countries.
World Bank representatives serve on the international Financial Stability Forum
References
- ↑ Country Brief: Uganda, World Bank